The investments directorate of Erbil city announced on Wednesday, that the local and foreign investments in various sectors have exceeded $ 14 billion, while confirmed focusing on the sectors of tourism, industry and agriculture in the next phase and revealed some governmental measures to reduce from the routine and the allocation of land to investors.

The general manager of investments in Erbil, Najah Baber said in a press conference held at the General Authority for Investment in Erbil, at the International Rotana Hotel that "Since 2005 until the end of last year, the investments in Erbil reached more than $ 14 billion, 737, and 210 thousand dollars."

Baber noted that "took the largest share by 82 projects, followed by industry by 45 projects , tourism by 43 projects, followed by health by 21 projects , agriculture by 16 projects and the presence of other projects in banking, education and the media sectors."

He also announced that “Lebanon occupies the forefront within the foreign countries by 7 projects, followed by Turkey by 7 projects , America by 4 projects then Britain two projects as well as other countries, such as Egypt, Germany, Iran, Sweden, New Zealand and the United Arab Emirates".

Kurdistan Parliament has ratified in 2007 the investment law in the region as the law gives many advantages to investors, including tax-exempt for companies for 10 years with exempt from customs duties for a period of 5 years.